Frequently Asked Questions
Market values for gold & silver are quoted on the basis of metal delivered in 400 oz bars and 1,000 oz bars respectively. If delivery is taken in this form then no bar charges apply.
If delivery is required in another denomination then a bar will have to be especially made by a refinery to meet that request. A bar charge is the cost charged by the refinery for manufacturing that bar.
Bar charges are levied on a per-ounce basis with smaller bars costing more per-ounce to make. It is therefore wise when requesting physical delivery of gold to ask for the largest bars available since this will reduce costs.
Scotiabank gold certificates are backed by the assets of The Bank of Nova Scotia.
To sell or exchange certificates for bullion, the signature of the certificate holder must be guaranteed by an authorized officer of the bank or the trust company where the certificate holder is a regular customer.
Safety deposit boxes are available on the concourse level of Scotia Plaza in Toronto for storing bullion, coins and certificates. Check with your local Scotiabank branch for safekeeping services outside of Toronto.
Selling gold or silver to Scotiabank is as simple as visiting your local Scotiabank branch in Canada.
Following confirmation of the weight and purity of the metal your Scotiabank account will be credited with the sale proceeds.
The sales process can be influenced by a number of factors, including:
Applicable coin premium and bar charges will apply, as well a commission is charged by your branch to cover their administration costs.
Fees are also payable for administration of gold and silver certificates. These fees are payable when the certificate is redeemed or exchanged. The current administration fees are:
These commissions/charges are subject to change without notice.
Precious metals are exempt from GST / HST.
Gold, silver and platinum products are exempt from HST/GST. Palladium products are subject to HST/GST.
Provincial sales tax is applicable in certain provinces. Contact your Scotiabank branch for details. Sales tax is not payable on certificates.
Allocated gold is bullion held by a bank on behalf of the owner. The gold is separated from other metal that may be held by the bank and is identifiable by its unique bar numbers.
Unallocated gold is a claim on The Bank of Nova Scotia for the ounces entitlement to a specific quantity of gold bullion.
Gold minimum is 10oz, and Silver Minimum is 500 oz.
For more information about opening a Self-Directed RSP at Scotia iTRADE, call 1-888-872-3388 or visit your local Scotiabank branch.
Scotiabank has issued 1/2oz and 1/4oz Round Bars and 1oz Round Bars and Wafers.
ScotiaMocatta has also issued 5 gram and 8 gram Round Bars. These products are our most competitively priced Gold products, as well as our most aesthetically appealing packaged product.
To become a Scotiabank client,
|Site Map Legal Privacy Security|
|Copyright © The Bank of Nova Scotia 2013|